Which of the Following Statements Regarding the Bank of the United

question 1

Multiple Choice

Which of the following statements regarding the Bank of the United States under Nicholas Biddle is FALSE?

• A)The charter of the Bank was due to expire in 1836.
• B)Nicholas Biddle had the support of Daniel Webster and Henry Clay.
• C)The controversy over the Bank became the leading issue in the 1832 election.
• D)President Jackson ordered the Bank closed before the expiration of its charter.
• E)President Jackson went through several secretaries of the treasury before finding one who would help him weaken the bank.

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Definitions:

Aggregate Outputs

The total amount of goods and services produced in an economy over a specific time period.

Agricultural Subsidies

Financial assistance from government to farmers to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.

Export Income

Revenue generated by a country or company from selling goods and services to other countries.

Debt Forgiveness

The cancellation or reduction of the principal amount owed on debt by a creditor, reducing the financial burden on the debtor.